What Are The Benefits of Working For a Private Blockchain Development Company

Blockchain technology is a relatively new development that has the potential to be a game-changer. Some even promote blockchain technology as being the next technological revolution. A lot of businesses are excited about the possibilities that exist with blockchain and are trying to get in on the game early.

Over the last few years, blockchain technology has made a lot of progress. This is one of the most talked-about trends in the technology sector. With the potential to change everything from institutions to platforms, there is no doubt blockchain technology is here to stay. While it is still in the early days, we have a long way to go before we see it being used by most people and businesses.

This blog looks at some of the biggest benefits of working for a private blockchain development company.

 What is a private blockchain?

A private blockchain is a blockchain that is not open to the public and can only be joined by invitation. These blockchains are usually controlled by a single entity, organization, or group of people. There are also consortium blockchains that are controlled by a pre-selected set of nodes or miners. In the case of a public blockchain, the transactions are openly validated by a network of miners. On the other hand, in a private blockchain, transactions are validated by either a single entity or a group of people.

There are several benefits of working for a private blockchain development company, depending on the business you’re in. Private blockchains are a good option if you want to keep your transaction data private. It is also great if you want to carry out multiple transactions per second. However, a private blockchain is not a decentralized system and is usually used by a single entity.

 How is private blockchain development better than public blockchain?

You might have heard about public blockchain and private blockchain, but what is the difference between them? Let’s see what the difference between private and public blockchains is.

A public blockchain is a decentralized ledger that is open to everyone on the network. Anyone can download the software and join the network. All transactions are transparent and the miners’ identities are public. Anyone on the network can participate in the consensus mechanism.

A private blockchain is a private version of the public blockchain. It is behind a firewall, so only those who are granted access can join the network. So, it is permissioned. A private blockchain can be permissioned by a single entity or by a consortium of companies. A private blockchain is used for enterprise solutions. It is centralized, but it is not controlled by a single entity. It is controlled by a group of companies.

 Benefits of hiring a  private blockchain development company

Today, Blockchain technology is one of the fastest-growing industries in the world, and there are a lot of Private Blockchain development companies that you can hire to help you with your project. But you must know them. Blockchain has been in the news a lot lately, with many companies making headlines by using the technology.

Bitcoin, which is a digital currency, was the first application of Blockchain technology. Bitcoin was developed in 2009, and in that same year, Blockchain technology started to gain popularity. Today, Blockchain technology is used in a variety of different industries and has a large number of applications.

When you work for a private blockchain development company, you get to work on some really interesting projects. You also get to learn new information and technologies. These are just a couple of the benefits of working for a private blockchain development company, but they are also some of the most important. You will also be able to apply your knowledge to a wide variety of different projects.

Conclusion

The benefits of working for a private blockchain development company are about the same as for any other IT job. You get access to new technologies, you get to learn new skills and you get to work with other talented people. The main difference is that you are working for a company that is using blockchain technology, so you are sure to be working on something new and exciting.

By: John.V

Source: What are the benefits of working for a private blockchain development company?

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Coca-Cola To Release a Pride Series NFT Collection on Polygon (MATIC)

1
  • Coca-Cola has announced plans to release a Pride series NFT collection to celebrate the LGBTQIA+ community.
  • Coca-Cola will be collaborating with artist and advocate Rich Mnisi.
  • The Pride Series NFT collection will be minted on the Polygon Network (MATIC).

The world-renowned beverage company of Coca-Cola has announced that it will be launching a Pride series NFT collection in celebration of the LGBTQIA+ community. Each NFT will be unique and ‘aims to shine color-filled light on the community’s members and spread a message of Love.Coca-Cola will be collaborating with designer and advocate for LGBTQIA+ rights, Rich Mnisi, who hails from South Africa. The team at Coca-Cola further pointed out that Rich Mnisi’s artwork ‘pushes boundaries on the concepts of identity and community.’ They explained:

136 NFTs on the Polygon Network (MATIC).

“Coca-Cola commissioned bespoke Mnisi artwork for this collection to be sliced into individual fragments and dispersed across all 136 collectibles, making each one unique. Our hope with the pieces is to increase visibility by radiating the full spectrum of the community’s colors and spreading a simple message of Love,” the firm said in an announcement last week.

Rich Mnisi and Coca-Cola will collaborate in the creation of 136 NFTs, which are currently being minted on the Polygon Network (eaMATIC). Some of the NFTs are already listed on OpenSea. The Coca-Cola Pride Series NFTs now have a floor price of 1 Ethereum.

In addition, Coca-Cola commissioned the art, hoping each NFT would ‘increase visibility by radiating the full spectrum of the community’s colors and spreading a simple message of Love.’

Furthermore, all proceeds of the initial sale of the NFTs will be donated to charities serving the LGBTQIA+ community. For the first 12 months, the proceeds will be donated directly to OUT, an LGBTQIA+ charity chosen by Rich Mnisi. The organization is the second-oldest in South Arica, professionally serving the LGBTQIA+ community with physical and mental healthcare.

Interestingly, all the funds generated from the initial sale of the 136 NFTs built on the Polygon (MATIC) network, an Ethereum scaling solution, will be donated to multiple charities supporting and fighting for LGBTQIA+ rights. Coca-Cola added that the first charity to benefit will be OUT, the second-oldest LGBT organization in South Africa, which was chosen by Mnisi.

“These free forms represent both love’s permanence and its changing state. They’re to remind us of the power that lies within all of us to choose what love will become. Love is what we make it. Choose to love freely,” Coca-Cola added.

By: John P. Njui

Source: Coca-Cola to Release a Pride Series NFT Collection on Polygon (MATIC) – Ethereum World News

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American Express Announces First Crypto Rewards Credit Card On Its Network

American Express will soon debut the first crypto rewards credit card on its network. Announced today at the Consensus cryptocurrency conference in Austin,TX the card, developed in partnership with crypto wealth manager Abra, will transact in U.S. dollars and offer crypto back on any purchase category and amount. The rollout is expected later this year.

According to Abra’s CEO Bill Barhydt, who spoke with Forbes ahead of the announcement, the crypto rewards will be tradable across over 100 different cryptocurrencies supported by Abra with no annual or foreign transaction fees. In addition, the card will offer several benefits from the American Express Network, including offers for shopping, travel, dining and Amex’s purchase protections.

“We’re thrilled to combine the strength of our payments network with Abra’s innovation and expertise in crypto. This is a credit card for crypto explorers and enthusiasts alike,” said Mohammed Badi, President of Global Network Services at American Express.

Though first for American Express, the Abra crypto card is only the latest in a string of products offered by cryptocurrency companies on major payments networks, such as Gemini crypto card, which offers rewards in the form of bitcoin and over 60 other cryptocurrencies, and BlockFi rewards Visa card.

Abra received its first check from American Express back in 2015. Other notable investors include Digital Currency Group, Pantera Capital and the Stellar Development Foundation. Today the self-described “crypto bank” and Forbes’ Next Billion-Dollar Startups 2021 list member has over 2 million customers. The Mountain View, California-based firm says it has processed more than $2 billion in crypto-backed loans to retail and institutional clients.

The new joint initiative “represents another step toward Abra’s goal of eventually offering an instant line of credit directly at the point of sale,” said Barhydt. “This is the future of payments.”

Today the firm has also announced a new feature to buy and sell NFTs with managed custody in the Abra app. Rather than funding DeFi wallets and moving between different app interfaces to buy and sell NFTs from marketplaces like OpenSea, users will be able to buy and sell digital collectibles directly from Abra’s platform, Barhydt explained.

Cardholders can choose from any of the more than 100 cryptocurrencies supported on the Abra platform, with no annual or foreign transaction fees. The card will also come with Amex Offers for shopping, travel, dining and services as well as presale ticket access and purchase protections.

Commenting on the initiative, Mohammed Badi, president of Global Network Services at American Express, said:

“We have a long-standing relationship with Abra through our Amex Ventures investment portfolio, as they have deep expertise in both crypto and traditional financial services, and we are now pleased to extend the American Express brand and benefits to their customers as the payments network for their first card.”

In April, the firm announced the launch of a capital-management arm with five funds with exposure to bitcoin, ether and other cryptocurrencies available to accredited investors willing to invest at least $250,000.

I report on cryptocurrencies and other applications of blockchain technology. I also edit the weekly Forbes Crypto Confidential newsletter and contribute to our premium research service

Source: American Express Announces First Crypto Rewards Credit Card On Its Network

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Which Came First, The Electric Pickup or The Charging Station?

How rural communities will fare in the battle for electric vehicles funds comes down to a sort of chicken and egg scenario, officials said.

Without acceptance of electric vehicles (EVs) in rural areas, federal funding for charging stations will go elsewhere. But without the charging stations, fewer rural residents will buy electric vehicles.

David Adkins, executive director and CEO of the Council of State Governments, an organization that provides states with research focusing on public policy issues, said if his family in rural Kansas is any indication, electric vehicles are gaining traction in rural communities.

“I’m confident that rural America will increasingly prioritize the need for EV charging stations once the electrified Ford F 150 becomes the truck of choice for farmers and ranchers,” he said. “And Ford will only be able to sell those trucks if charging capacity is ubiquitous.”

Ford and startup Rivian are already selling electric pickups, and several manufacturers have plans to join the market. Cost will make deployment of charging options in urban centers happen first, but without a nationwide network it will be hard to get commercial EVs in widespread use, he said.

EV charging networks will be necessary for tomorrow’s rural America, he said.

“EV charging stations are the next chapter in rural connectivity,” he said. “Right now the focus is on broadband access which primarily benefits those living and working in rural America. Charging stations on the other hand benefit both local residents and those traveling through rural America.”

Recently, the Biden Administration released “Charging Forward: A Toolkit for Planning and Funding Rural Electric Mobility Infrastructure,” a guide for rural areas to get the most out of the federal funding for the electric vehicle charging infrastructure.

Getting those charging stations into rural areas is important for widespread adoption of EVs, the administration said.

“In rural parts of the country—home to 20 % of Americans and almost 70 % of America’s road miles—EVs can be an especially attractive alternative to conventional vehicles,” the administration wrote in its toolkit. “Rural residents drive more than their urban counterparts, spend more on vehicle fuel and maintenance, and often have fewer alternatives to driving to meet their transportation needs. Over the long run, EVs will help residents of rural areas reduce those costs and minimize the environmental impact of transportation in their communities.”

Ensuring that those charging stations go to rural areas will be a challenge, said U.S. Representative David Scott (D-Georgia), chair of the House Agriculture Committee.

“We are witnessing a point of major research, investment, and adoption of electric vehicles across the country and the world, driven in large part in an effort to mitigate the impacts of climate change,” Scott said at a hearing in January. “As with so many other technological advancements like electrification, broadband, or telephone service, I want to see what can be done to make sure that rural America is not left behind. And to that point, I want to also ensure that the needs of agriculture and rural residents are being considered with these important developments.”

The U.S. DOT said priority in the electric-vehicle charging network will be given to federally designated alternative fuel corridors, primarily located along interstate highways. Nominated by state and local governments, the corridors are highway segments with the infrastructure to support electric-vehicle charging stations, as well as other alternative fuels. The program requires charging stations at 50-mile intervals.

Some states in the American West have expressed concerns about that requirement.

“Western states face a suite of challenges related to planning and siting EV infrastructure, including the unique needs of both underserved and rural communities, vast distances between communities, limited electric grid infrastructure in sparsely populated areas, and a patchwork of federal, state, and private lands ownership boundaries,” the Western Governors Association, comprised of 19 states in the region, wrote in a policy resolution submitted to federal transportation officials in December.

“A number of western states have experienced challenges in meeting these defined metrics due to lacking electric infrastructure and suitable charging locations in sparsely populated areas.”

Part of the same fuel corridor goes through Appalachia, said Janiene Bohannon, director of communications with the Appalachian Regional Council, in an interview with the Daily Yonder. A map of the Electric Vehicle Charging State Location shows all the current electric vehicle charging stations across the country plus the current and proposed charging station corridors.

The number of EV charging stations in Appalachia is growing, she said. More charging stations means more connectivity for Appalachian residents and visitors.

“Bringing EV charging stations to the Appalachian Region will help to reduce its isolation and promote economic growth,” Bohannon said. “Additional electric vehicle charging stations could encourage a greater population that would visit Appalachia.”

Rural communities will have to deal with other larger challenges in installing EV charging stations, Adkins said.

“Another challenge states face in making the conversion to EV vehicles is the way surface transportation is funded,” he said. “The gas tax is currently a primary source of federal and state funding for streets and highways. States will need to update these revenue formulas in order to have funds to pay for infrastructure.”

Picking a technology to install is another obstacle. Tesla, for instance, has a proprietary charger, creating a “VHS v. Betamax-like market-based obstacle,” Adkins said.

“Like with solar, I believe significant subsidies will need to be provided to private sector players in order to build out initial EV charging networks,” he said. “It will be fun to watch how innovation occurs as the number of electric vehicles grows in the next decade.”

Source: Which Came First, the Electric Pickup or the Charging Station? | The Daily Yonder

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Why Fears Of A ‘Government Crackdown’ On Bitcoin Are Overrated

A consistent thread about bitcoin has been that if it succeeds, it will inevitably invite government legislation and regulation to shut it down. This has been a backhanded critique of sorts advanced by investors like Ray Dalio who are “on bitcoin’s side”, but worry about its success attracting the attention of the state powers that be.

This isn’t an altogether surprising or irrational fear. We live centuries after the establishment of the nation-state as all-powerful welfare state, military, and taxation hub. It’s clear that state powers are often only reined in by “political” constraints (rather than physical or technical ones). Could governments shut down bitcoin if they wanted to?

This is probably a lot harder than one might think. Bitcoin is somewhat resilient to government crackdowns because of its origin, and the way the network is built. While states, if focused enough, could probably inflict some damage to bitcoin if it was a central state objective across the board, there are many factors for why a “government crackdown” on bitcoin is overrated for destroying the network.

1- It requires large-scale coordination among many different multilateral bodies and states

Since bitcoin is internationalized, it would require consent and coordination among almost every nation-state in order to effectively crack down on bitcoin. While the major world powers (such as the United States and China) have a bloc-like effect, and whereas there has been more coordination (often US-led) on issues such as climate change and corporate tax rates, when you look at issues as diverse as COVID-19 and the tit-for-tats of “strategic rivals” and Olympic boycotts — it is still difficult to see countries focusing on bitcoin in unison.

Large-scale coordination would be required to shut down the network in any meaningful way: otherwise, people could transact and support the bitcoin network in other nations or even in space. A slow nation-by-nation ban can affect the network: at an extreme, an unlikely state-led ban in the United States might choke off bitcoin from American-led financial systems and markets with near-total global reach. Yet, so long as bitcoin was trans-actable across other states, a “global ban” could not be accomplished nor a “government crackdown”.

2- There is no central node that states can really pressure

One of the most unique points about bitcoin is that there is no central leader figure to pin down. Satoshi’s disappearance, and Hal Finney’s untimely death, have led to a situation where there isn’t a “company CEO” or some other central leader to go after. While there are pressure points nation-states can use to pursue their objectives (for example, physical concentration of miners, key technical contributors still constrained by borders), there isn’t a central one, but rather a set of diffused ones.

We saw this when the Chinese state banned bitcoin mining in its territory: did that spell the end of bitcoin? No: miners simply shifted their equipment elsewhere, and within a few months, hash rate was as high if not higher than what it was before.

States are not used to dealing with organizations like this: they are used to dealing with multinational corporations to a certain extent, but there are usually a set of central pressure points and leadership that a state can lean on to get that corporation to adhere to certain rules and regulations. That, due to bitcoin’s unique creation story, is very unlikely to happen with any attacks on the bitcoin network.

3- Code is speech

In the United States, code is regarded as “protected” speech — software source code which powers bitcoin is protected by the First Amendment. In order to attack the distribution of code that powers bitcoin, countries like the United States would have to fundamentally change themselves and subvert long-held covenants of limited powers and the rule of law. This is not impossible (bitcoin, over a decades and even centuries long time horizon is a bet that (some) technical constraints are better than purely political ones for maintaining rule of law) but would be very out of character, and probably politically untenable.

4- States can be induced by bitcoin for commercial and other reasons

The Internet may never have been encrypted at all — export controls were initially placed on encryption, and commercial uses were seen skeptically. However, states partially relented when the commercial possibility of the Internet became clear. Now encryption powers communications as well as online banking and e-commerce sales.

This is not something states like: the Five Eyes and allied countries want to subvert end-to-end encryption and authoritarian states like the Chinese state either have backdoors or other mechanisms to promote social control. Yet it shows that, when faced with something that might threaten national security, the need for states to show GDP outcomes and to deliver wealth to their peoples might override their preferences in other areas.

As more and more countries adapt bitcoin in some fashion, this pressure will become larger until perhaps one day, we might see a bitcoin-friendly bloc of nations emerge similar to the Cairns Group for agriculture. Some will find that their domestic power-generation is more efficiently parsed through open-source bitcoin rather than supporting the fractional reserves of other countries. The more states are turned over to supporting the bitcoin network, the harder it will be for other states to attack it.

5- Bitcoin’s threat model has long included state-level powers

The way bitcoin is implemented makes it (more) prohibitive for any centralized collection of computers to disrupt the system. With more than 170,000 PH/s of hash rate securing the system (as of the date of writing) from a coordinated 51% attack (where an attacker could take over the system and propogate invalid spends in order to down the system for legitimate users, or to benefit monetarily from it), a projected security budget of around $45-60mn a day, and enough stakeholders .

(From investors, code contributors, analytics firms, miners and businesses — and now governments — that accept bitcoin) who have placed their financial livelihoods on monitoring the chain such that bitcoin could be secure beyond its fundamental dynamics — bitcoin is large enough to warrant significant resources for any attack, resources that wouldn’t be available for just any nation-state, and which would have to be continually deployed in a way that would make it hard to obscure who the attacker was.

We live in a heady time where “magic Internet money” has suddenly become the concern of Clausewitz readers around the world. As bitcoin grows more prominent, the possibility that it attracts state powers to disrupt or fully coopt it grows — yet those who play some part in the network, either from investing, transacting or supporting its infrastructure, can rest assured that the system has some inherent properties that make it more resilient than you might expect to even the strongest of attacks.

Follow me on Twitter. Check out my website.

I was one of the first writers in 2014 to write about the intersection of cryptocurrencies in remittance payments and drug policy with VentureBeat and TechCrunch.

Source: Why Fears Of A ‘Government Crackdown’ On Bitcoin Are Overrated

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